Welcome to the Pensions Dashboard Prototype Project

The work to create Pensions Dashboards is now being taken forward by the Pensions Dashboards Programme as part of the Money and Pensions Service. The latest information regarding this work can be found here. The information on this site relates to the “Pensions Dashboards Prototype Project” which concluded in October 2018.

About the Pensions Dashboard Prototype Project

During the 2016 Budget, the government made a commitment that Pensions Dashboards would be created by the pensions industry, enabling everyone to view details of all of their pensions together. Government has indicated that every provider will eventually move to sharing data with their customers this way.

The Pensions Dashboard Prototype Project was launched in September 2016 by the Economic Secretary to the Treasury and now, after a busy period of close, cross-industry collaboration, design and development, the Pensions Dashboard Prototype is being demonstrated to government, industry and other stakeholders as an important step towards delivering services.

The need for Pensions Dashboards

Pensions have always been complex. For the lay person, keeping track of those savings is a significant barrier to effective financial management.

The pensions landscape is also evolving; we are seeing increasing longevity, lower guaranteed pensions, and rising consumer expectations.

On average, a working adult in the UK may have 11 different jobs during his or her working life. That means up to 11 different pension pots and the State Pension.

A holistic view is hard to achieve, even with the help of a financial adviser – and perhaps that’s why it is estimated that £400m of pensions are unclaimed.

Role of Pensions Dashboards

Pensions Dashboards will enable people to view a snapshot of their pensions, online, via the portal of their choice.

Some industry experts have suggested that pension dashboards may deliver:

Better understanding of their likely finances in retirement, based on their current situation

Clearer grasp of the need for financial advice

Motivation to increase their pension contributions

And more inclination to take a proactive role in managing their retirement.

For the industry as a whole, a better informed customer should lead to: